Bad Credit Online Magazine - Daily News and Advice on Credit, Debt and Mortgage : Pending Congress resolution will increase student loan costs
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September 02, 2005
Pending Congress resolution will increase student loan costs
The House Resolution 609, the re-authorization of the Higher Education Act of 1965, has provisions that would make students paying a 1 percent guarantee fee on the principal of a loan. Currently this fee is often paid by lenders. The resolution would also raise the interest rate cap for federal student loans, increase interest rates on consolidated loans by a full percentage point and add an origination fee to consolidated fixed-rate loans, according to Casper Star Tribune
Posted in Student Loans at September 2, 2005 01:34 PM
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